Fortress Net Lease REIT: debt financing — Fortress Net Lease REIT increases credit facilities from $1.275B to $1.65B, adds multicurrency tranche

Fortress Net Lease REIT

Revolving facility raised from $1.0475B to $1.3475B; term loan from $227.5M to $302.5M.
Accordion feature expanded to allow future increases up to $2.5B.
New multicurrency tranche permits borrowings in EUR, GBP, and CAD.
Borrowing base advance rate temporarily raised to 65% from 60% through March 31, 2026.
Facilities bear interest at SOFR plus 1.40%–1.90% or base rate plus 0.40%–0.90%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Fortress Net Lease REIT amended credit facility of from $1,275,000,000 to $1,650,000,000 with Bank of America, N.A. (as administrative agent) and the lenders party thereto at term SOFR plus a margin ranging from 1.40% to 1.90%.

Instrument: credit facility
Principal: from $1,275,000,000 to $1,650,000,000
Counterparty: Bank of America, N.A. (as administrative agent) and the lenders party thereto
Rate: term SOFR plus a margin ranging from 1.40% to 1.90%
Event: amendment

Exact text from the filing

Pursuant to the Fourth Amendment, the aggregate principal amount of the Credit Facilities was increased from $1,275,000,000 to $1,650,000,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fortress Net Lease REIT amended Fourth Amendment to Credit Agreement and Incremental Facilities Confirmation with each lender party thereto, and Bank of America, N.A. ("BofA"), as administrative agent valued at $1,650,000,000 (effective 2025-11-20).

Action: amendment
Agreement: credit facility
Counterparty: each lender party thereto, and Bank of America, N.A. ("BofA"), as administrative agent
Value: $1,650,000,000
Effective: 2025-11-20

Exact text from the filing

On November 20, 2025, FNLR OP LP, as borrower (the “Borrower”), Fortress Net Lease REIT, as guarantor (the “Company”), the other guarantors party thereto (together with the Company, the “Guarantors” and, collectively with the Borrower, the “Loan Parties”), entered into that certain Fourth Amendment to Credit Agreement and Incremental Facilities Confirmation (the “Fourth Amendment”) with each lender party thereto, and Bank of America, N.A. (“BofA”), as administrative agent (the “Administrative Agent”), amending that certain Credit Agreement, initially dated August 13, 2024 and as most recently amended on July 25, 2025, among the Loan Parties, the lenders party thereto and the Administrative Agent.

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Source: SEC EDGAR

accession 0001140361-25-043515

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